All Forum Posts by: Pam Poe

Anyone have experience with the 7year law of ownership in Florida? As I understand it, if you squat on an abandoned piece of property, establish mail delivery to the address to develop a timeline in 7 years if no one has complained or come forward about you being on their property, you can apply for deed to it and it is yours? Any one else know anything about this?

Hi, I had my own handyman service doing renovations for investors till August 2016 when I was sitting at a red light and rear ended. My truck was totaled, luckily he had great insurance, problem is it’s going to trial so hurry up and wait. I want to buy a low cost fix and flip, but being out of work since the accident credit is not an option. So I’m looking to borrow $40k for 2 years, and am willing to use accident settlement as promissory note, or property purchase lean or both if necessary. I want to get going on this but waiting for settlement is slow. I’ve checked out companies like Oasis who do settlement lending and they only do small amounts.Any advice or suggestions would be great. Currently I live in Florida but I’m open to moving to another state and a smaller town lifestyle. Thanks

Thank you all for your responses, the house is in the country. I will get permits for electric no plumbing needed yet but I thought about it and my work may pass my inspections but like the guy said when I go to sell m, it may have to pass someone else's inspections. So better be safe then sorry:)

I am rehabbing a house I bought, it needs everything and I've gutted to studs and am now rebuilding. I am a 55 year old widow women not a contractor. I like fixing and painting. So if I do all the work inside do I need to pull permits? For plumbing, electrical etc? I replaced the septic and drain field with no permit and no one complained but I don't know if I got lucky or better to be safe. It's my 1st project. Thanks

yes I did check them out and the leans. An be negotiated to an extent code enforcement has to be reviewed by the board and that's after you purchase it and make repairs. The utility lean may not be so easy as it is there because they were supposed to hook up to city water and sewer 10 years ago and never did. So house still needs to be connected to city utilities and impact fees paid. Also taxes for last to years need paid. My thought is do math on utility costs and impact fees, taxes then negotiate a lower selling price and do math on a buy and hold fix up and rent out see how long to recoup the costs. Then I'll know if I have a deal or not.

So I found a deal on 2 houses 1 lot abandoned for years, sold on tax deed sale now up for sale for 9k.!well the code enforcement has over 1 million $$ in leans back to 1999, and $7k in utility leans, and still has 1k in taxes. Wow

The cost to buy is $10K and you get 2 houses on a nice lot, nice area, the city has 1 house listed as a shed but it's a house. They both have solid roofs, electric to the pole and city water as well as natural gas. Those are the positives. They both need dry wall, flooring, cabinets, plumbing, Windows, paint and garbage cleaned out. But I thought it would be a good rehab and rent kind of thing. What scares me is the code enforcement safety inspection. I don't want them condemned before I can rehab and I don't have much money. I see so much potential but worried about $$$ and things I can't fix myself.

Hi, I am new to real estate investing. I have found many very abandoned over grown houses in central Florida. Even in ok neighborhoods, I did my due diligence and I have found no leans just a lot of work. They often have to have a safety inspection by code enforcement before power will be restored, and often there is so much garbage and vandalism but they are not condemned. So why are they still there? I'm tempted to buy what I think would be a good deal, a lot of work but still a good deal. I'm not a licensed contractor and would have to do most work myself. I don't want to take on more then I can handle.

Hello, I am in the central Florida area and I have always loved the real estate venue but time and money held it at bay. Now I have the time but not much money but you have to start some where so here I am. I have researched tax certificates and tax deed auctions and have found plenty of vacant homes too. I'm looking to net work to learn how to know what is a good investment, what is not. I'll start small and hope to grow tall. Thanks